Grade Inflation: Greenspan Insists That He Was Right 70 Percent of the Time

Former Federal Reserve Chairman Alan Greenspan insisted that he was “right seventy percent” of the time in his tenure leading up to the economic collapse. On most grading scales that would give him about a C — hardly the level of performance you want from an economic policy official.

Greenspan insisted “When you’ve been in government for 21 years, as I have been, the issue of retrospect and what you should have done is a really futile activity. I was right 70% of the time. But I was wrong 30% of the time, and there were an awful lot of mistakes in 21 years.”

I wonder what it takes to get at least a B student performance for one of the largest economies in the world.

For the full story, click here.